Mortgage to income ratio for UK buyers 2000-2022

Buying a home is less affordable for first-time buyers than for former owner-occupier. In 2022, first time buyers paid higher total mortgage payments relative to their income compared to people who already owned a home. The mortgage payment of first time buyers was 18.9 percent of their income, while for former owners it was 17.9 percent. The total mortgage payment refers to the total of all monthly payments over the full term of the mortgage.

Total mortgage payment as a percentage of income in the United Kingdom (UK) from 2000 to 2022, by type of buyer

Characteristic	First-time buyer	All buyers	Former owner occupier
2022	18.9%	17.9%	17.2%
2021	17.2%	16.4%	15.9%
2020	17.1%	16.2%	15.6%
2019	17.6%	16.6%	16%
2018	17.6%	16.7%	16%
2017	17.4%	16.4%	15.9%
2016	17.5%	16.4%	15.7%
2015	17.6%	16.3%	15.6%
2014	18.4%	16.9%	16.2%
2013	17.9%	16.3%	15.6%
2012	18.3%	16.8%	16.2%
2011	17.8%	16.3%	15.8%
2010	17.6%	16.2%	15.8%
2009	18.3%	16.6%	15.9%
2008	22.7%	20.3%	19.4%
2007	23.5%	21.1%	20.2%
2006	21.5%	19.7%	19%
2005	22.5%	20.4%	19.8%
2004	22%	19.6%	19.9%
2003	19.9%	17.7%	18.2%
2002	18.1%	16.8%	16.8%
2001	18.8%	17.9%	17.8%
2000	19.4%	19.1%	18.9%

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Release date

July 2023

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Region

United Kingdom

Survey time period

2000 to 2022

Supplementary notes

The source adds the following information: "From 1999, the average mortgage rate is a composite figure which has been constructed from a weighted combination of building society and bank mortgage interest figures to give an overall estimate of the mortgage rate. The mortgage repayment is for capital and interest charges. The data published in these tables are based on a sub-sample of RMS data. These results will therefore differ from results produced using full sample data."

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